Philippine Thrift Banks Deteriorate in the 3rd Quarter of 2012

Editor's Note: The Philippine Deposit Insurance Corporation (PDIC) advised consumers to wisely choose the banks where they will deposit their money. The trouble is, most depositors don't and can't read financial statements before they open a bank account. The regulators, whose job is to safeguard the public's money, have not done a good job recently.  In the past ten years, two commercial banks, twenty-one thrift banks, and a staggering 187 rural banks have collapsed, often quite suddenly and without warning..  Regulators do have a problem bank list that they do not divulge to the public, for fear of sparking another bank run. So who can the public turn to, to advise them where to put their money? No one, except the banks themselves who will always promote their self-interests. This analysis is an attempt to fill in that knowledge gap, by screening out the weaker banks that seem ready to implode at any given moment.

Editor's Note: The ratio of Distressed Assets to Total Capital Cushion is a variant of the famous Texas Ratio, which was widely used by US financial regulators to predict bank failure during the US Savings and Loan Crisis in the 1980s and early 1990s. The basic premise is that a bank with Distressed Assets greater than its Capital Cushion is in danger of insolvency, because a significant drop in the value of  the Distressed Assets will eat into a significant amount of the bank's capital.  A bank that has a Distressed Ratio greater than 100% is flagged as borderline insolvent (highlighted in yellow).  For a more detailed discussion of this ratio, please visit a previous blog post: The Texas Ratio of Select Philippine Banks 

Distressed Banks:

The list of distressed thrift banks are as follows:

1. The Real Bank (Distressed Ratio of 1051.35%)
2. Legazpi Savings Bank Inc. (Distressed Ratio of 790.40%)
3. Village SLA (Distressed Ratio of 563.87%)
4. Comsavings Bank (formerly GSIS Family Bank) (Distressed Ratio of 464.02%)
5. Iloilo City Development Bank (Distressed Ratio of 408.93%)
6. Planters Development Bank (Distressed Ratio of 294.01%)
7. Bataan Development Bank (Distressed Ratio of 223.93%)
8. RCBC Savings Bank (Distressed Ratio of 188.14%)
9. China Bank Savings (Distressed Ratio of 185.56%)
10. Farmers Savings & Loan Bank (Distressed Ratio of 173.13%)
11. University Savings Bank (Distressed Ratio of 147.50%)
12. Equicom SB (Distressed Ratio of 143.13%)
13. Business & Consumers Bank (Distressed Ratio of 141.33%)
14. Luzon Development Bank (Distressed Ratio of 138.15%)
15. Hiyas Savings & Loan Bank (Distressed Ratio of 136.26%)
16. Opportunity Kauswagan Bank, Inc. (Distressed Ratio of 123.11%)
17. Silangan Savings and Loan Bank, Inc. (Distressed Ratio of 122.11%)
18. Malayan Bank Savings & Mortgage Bank (Distressed Ratio of 117.39%)
19. Producers Savings Bank (Distressed Ratio of 103.49%)
20. Philippine Postal Savings Bank (Distressed Ratio of 101.22%)
21. Security Bank Savings Corporation (Distressed Ratio of 101.21%)

It should be noted that one bank dropped out of the borderline insolvent list (highlighted in yellow): Philippine Resources Savings Banking Corporation, which had a distressed ratio of 122.60% as of June 30, 2012, decreased its distressed assets by Php 600.017 million while increasing its capital cushion by Php 50.251 million in the third quarter of 2012.  This resulted in a 41.12% improvement in its overall distressed ratio from 122.60% as of June 30, 2012 to only 72.19% as of September 30, 2012.

It should also be noted that two banks entered the borderline insolvent list:

1. Producers Savings Bank, which had a distressed ratio of 98.76% as of June 30, 2012, now has a distressed ratio of 103.49% as of September 30, 2012.
2. Security Bank Savings Corporation, which had a distressed ratio of 76.28% as of June 30, 2012, now has a distressed ratio of 101.21% as of September 30, 2012.

Overall Condition

Based on the individual Published Statements of Condition for the Philippine Thrift Banking Industry (from www.bsp.gov.ph), Total Distressed Assets of Philippine Thrift Banks increased by Php 14.315 billion or 18.16% from June 30, 2012 to September 30, 2012.  The Total Capital Cushion of Philippine Thrift Banks also increased by Php 7.165 billion or 8.38% during the same period.  As a result, the Thrift Bank's Ratio of Total Distressed Assets to Total Capital Cushion increased from 92.24% as of June 30, 2012 to 100.56% as of September 30, 2012.

The banks that posted as significant improvement in their distressed ratios include:

1. Merchant Savings & Loan Association Inc. (89.68% decrease)
2. Pacific Ace Savings Bank (62.72% decrease)
3. Wealth Bank - A Development Bank (49.92% decrease)
4. Northpoint Development Bank (48.31% decrease)
5. Philippine Resources Savings Banking Corporation (41.12% decrease)
6. Pampanga Development Bank (35.82% decrease)
7. World Partners Bank (25.86% decrease)
8. Opportunity Kauswagan Bank, Inc. (22.73% decrease)
9. Pridestar Development Bank (21.29% decrease)

The banks that exhibited a significant deterioration in their distressed ratio include:

1. BPI Globe Banko Inc. Savings Bank (155.66% increase)
2. Bank One Savings and Trust Corp. (96.73% increase)
3. Legazpi Savings Bank Inc. (92.90% increase)
4. Penbank, Inc. (51.57% increase)
5. Microfinance Maximum SB (39.72% increase)
6. Dungganon Bank (37.83% increase)
7. BPI Direct Savings Bank (33.40% increase)
8. Security Bank Savings Corporation (32.68% increase)
9. China Bank Savings (30.80% increase)

Philippine Thrift Banking System
Total Distressed Assets/ Total Capital Cushion
June 30, 2012 to September 30, 2012
Bank	Jun 30, 2012	Sep 30, 2012	Variance	% Variance
BPI Globe Banko Inc. Savings Bank	24.68%	63.10%	38.42%	155.66%
Bank One Savings and Trust Corp.	39.34%	77.39%	38.05%	96.73%
Legazpi Savings Bank Inc.	409.75%	790.40%	380.65%	92.90%
Penbank, Inc.	61.99%	93.95%	31.96%	51.57%
Microfinance Maximum SB (Maxbank)	63.14%	88.22%	25.08%	39.72%
Dungganon Bank	15.98%	22.03%	6.05%	37.83%
BPI Direct Savings Bank	26.54%	35.41%	8.87%	33.40%
Security Bank Savings Corporation	76.28%	101.21%	24.93%	32.68%
China Bank Savings	141.86%	185.56%	43.70%	30.80%
Planters Development Bank	248.49%	294.01%	45.52%	18.32%
Malasiqui Progressive SLB, Inc.	30.04%	35.52%	5.47%	18.22%
Allied Savings Bank	39.12%	42.94%	3.83%	9.78%
Silangan Savings and Loan Bank, Inc.	112.16%	122.11%	9.95%	8.87%
Luzon Development Bank	127.79%	138.15%	10.36%	8.10%
Philippine Savings Bank	82.27%	88.92%	6.65%	8.08%
Sampaguita SLA	62.61%	67.33%	4.72%	7.53%
BPI Family Savings Bank	70.13%	75.01%	4.88%	6.96%
Equicom SB	135.09%	143.13%	8.04%	5.95%
Producers Savings Bank	98.76%	103.49%	4.73%	4.79%
Citibank Savings Inc.	88.99%	93.23%	4.24%	4.76%
Village SLA, Inc.	538.63%	563.87%	25.24%	4.69%
Bataan SLA	14.22%	14.81%	0.59%	4.17%
Quezon Coconut Producers SLB Inc.	44.55%	46.31%	1.77%	3.97%
Iloilo City Development Bank	393.63%	408.93%	15.30%	3.89%
CityState Savings Bank	37.45%	38.57%	1.12%	3.00%
Tower Development Bank	39.52%	40.67%	1.15%	2.91%
The Queen City Development Bank	21.96%	22.41%	0.45%	2.05%
Cordillera Savings Bank	62.82%	63.99%	1.18%	1.87%
UCPB Savings Bank	46.92%	47.33%	0.41%	0.87%
United Overseas Bank Philippines	61.51%	61.68%	0.17%	0.28%
First Consolidated Bank	48.50%	48.60%	0.10%	0.21%
BDO Elite Savings Bank	6.19%	6.20%	0.01%	0.18%
Isla Bank (A Thrift Bank) Inc.	8.85%	8.84%	-0.01%	-0.06%
Philippine Postal Savings Bank	101.44%	101.22%	-0.22%	-0.22%
Dumaguete City Development Bank	99.95%	99.29%	-0.67%	-0.67%
Sun Savings Bank	8.61%	8.51%	-0.10%	-1.19%
Farmers Savings & Loan Bank	175.94%	173.13%	-2.82%	-1.60%
University Savings Bank	151.04%	147.50%	-3.55%	-2.35%
Hiyas Savings & Loan Bank	139.65%	136.26%	-3.39%	-2.43%
Progress SLA	7.74%	7.51%	-0.22%	-2.85%
Bataan Development Bank	231.45%	223.93%	-7.52%	-3.25%
RCBC Savings Bank	194.60%	188.14%	-6.46%	-3.32%
Card SME Bank Inc. (A Thrift Bank)	10.53%	10.06%	-0.47%	-4.49%
Comsavings Bank	488.43%	464.02%	-24.41%	-5.00%
City Savings Bank	23.30%	22.13%	-1.17%	-5.03%
Lemery Savings & Loan Bank, Inc.	46.19%	43.24%	-2.94%	-6.37%
Maritime SLA	38.29%	35.84%	-2.45%	-6.40%
Sterling Bank of Asia Inc.	67.62%	62.78%	-4.85%	-7.17%
Century Savings Bank	7.37%	6.80%	-0.57%	-7.71%
Tong Yang Savings Bank Inc.	61.10%	56.02%	-5.08%	-8.31%
Philippine Business Bank	77.04%	70.63%	-6.42%	-8.33%
Malayan Bank Savings & Mortgage Bank	128.44%	117.39%	-11.05%	-8.60%
Optimum Development Bank	15.14%	13.21%	-1.93%	-12.73%
Life Savings Bank	59.79%	51.31%	-8.48%	-14.19%
HSBC Savings Bank (Phils) Inc.	9.61%	8.21%	-1.40%	-14.53%
Business & Consumers Bank	169.76%	141.33%	-28.44%	-16.75%
Metro Cebu Public Savings Bank	86.62%	70.81%	-15.81%	-18.26%
Pridestar Development Bank	56.60%	44.55%	-12.05%	-21.29%
Opportunity Kauswagan Bank, Inc.	159.32%	123.11%	-36.21%	-22.73%
World Partners Bank (A Thrift Bank)	57.33%	42.50%	-14.83%	-25.86%
Pampanga Development Bank	67.91%	43.59%	-24.32%	-35.82%
Philippine Resources Savings Banking Corporation	122.60%	72.19%	-50.41%	-41.12%
Northpoint Development Bank	59.84%	30.93%	-28.91%	-48.31%
Wealth Bank - A Development Bank	85.11%	42.62%	-42.49%	-49.92%
Pacific Ace Savings Bank	20.68%	7.71%	-12.97%	-62.72%
Merchants Savings & Loan Association Inc.	57.08%	5.89%	-51.19%	-89.68%
The Real Bank (A Thrift Bank) Inc.	NA	1051.35%	NA	NA
Grand Total	92.24%	100.56%	8.32%	9.02%

Source: www.bsp.gov.ph

Philippine Thrift Banking System
Total Distressed Assets/ Total Capital Cushion
June 30, 2012 to September 30, 2012
		June 30, 2012				September 30, 2012				Variance				% Variance
Bank	Total Distressed Assets (In PHP)	Total Capital Cushion (In PHP)	Distressed Assets/ Total Capital Cushion (In %)		Total Distressed Assets (In PHP)	Total Capital Cushion (In PHP)	Distressed Assets/ Total Capital Cushion (In %)		Total Distressed Assets (In PHP)	Total Capital Cushion (In PHP)	Distressed Assets/ Total Capital Cushion (In %)		Total Distressed Assets (In PHP)	Total Capital Cushion (In PHP)	Distressed Assets/ Total Capital Cushion (In %)
The Real Bank (A Thrift Bank) Inc.	NA	NA	NA		9,516,786,838.48	905,196,918.56	1051.35%		NA	NA	NA		NA	NA	NA
Legazpi Savings Bank Inc.	780,780,602.74	190,550,893.59	409.75%		1,520,590,623.29	192,381,540.63	790.40%		739,810,020.55	1,830,647.04	380.65%		94.75%	0.96%	92.90%
Village SLA, Inc.	461,071,117.97	85,601,162.41	538.63%		479,384,798.66	85,016,613.24	563.87%		18,313,680.69	-584,549.17	25.24%		3.97%	-0.68%	4.69%
Comsavings Bank	2,208,670,807.21	452,199,610.73	488.43%		2,197,560,806.67	473,592,378.81	464.02%		-11,110,000.54	21,392,768.08	-24.41%		-0.50%	4.73%	-5.00%
Iloilo City Development Bank	260,017,320.80	66,055,710.31	393.63%		270,977,193.00	66,264,793.70	408.93%		10,959,872.20	209,083.39	15.30%		4.22%	0.32%	3.89%
Planters Development Bank	11,165,041,937.84	4,493,071,814.41	248.49%		13,269,185,069.91	4,513,127,703.18	294.01%		2,104,143,132.07	20,055,888.77	45.52%		18.85%	0.45%	18.32%
Bataan Development Bank	183,018,354.25	79,075,920.15	231.45%		174,116,633.54	77,756,277.41	223.93%		-8,901,720.71	-1,319,642.74	-7.52%		-4.86%	-1.67%	-3.25%
RCBC Savings Bank	13,878,811,926.12	7,131,983,741.37	194.60%		13,586,838,184.29	7,221,683,741.37	188.14%		-291,973,741.83	89,700,000.00	-6.46%		-2.10%	1.26%	-3.32%
China Bank Savings	1,446,154,272.29	1,019,400,071.90	141.86%		1,898,139,702.21	1,022,928,082.14	185.56%		451,985,429.92	3,528,010.24	43.70%		31.25%	0.35%	30.80%
Farmers Savings & Loan Bank	208,209,608.72	118,338,500.90	175.94%		206,232,294.40	119,121,673.90	173.13%		-1,977,314.32	783,173.00	-2.82%		-0.95%	0.66%	-1.60%
University Savings Bank	345,277,947.66	228,592,781.95	151.04%		338,464,989.50	229,473,016.94	147.50%		-6,812,958.16	880,234.99	-3.55%		-1.97%	0.39%	-2.35%
Equicom SB	709,243,685.28	525,023,077.34	135.09%		753,567,755.55	526,505,528.17	143.13%		44,324,070.27	1,482,450.83	8.04%		6.25%	0.28%	5.95%
Business & Consumers Bank	134,035,191.32	78,955,187.35	169.76%		111,827,390.14	79,127,256.40	141.33%		-22,207,801.18	172,069.05	-28.44%		-16.57%	0.22%	-16.75%
Luzon Development Bank	597,160,536.04	467,297,773.57	127.79%		646,205,486.15	467,765,497.15	138.15%		49,044,950.11	467,723.58	10.36%		8.21%	0.10%	8.10%
Hiyas Savings & Loan Bank	240,065,531.78	171,902,352.90	139.65%		234,237,686.41	171,907,664.98	136.26%		-5,827,845.37	5,312.08	-3.39%		-2.43%	0.00%	-2.43%
Opportunity Kauswagan Bank, Inc.	198,389,464.35	124,518,919.38	159.32%		186,298,329.74	151,324,998.37	123.11%		-12,091,134.61	26,806,078.99	-36.21%		-6.09%	21.53%	-22.73%
Silangan Savings and Loan Bank, Inc.	57,469,598.94	51,238,430.92	112.16%		62,568,695.13	51,238,430.87	122.11%		5,099,096.19	-0.05	9.95%		8.87%	0.00%	8.87%
Malayan Bank Savings & Mortgage Bank	1,433,822,787.59	1,116,345,777.45	128.44%		1,351,217,546.60	1,151,079,672.82	117.39%		-82,605,240.99	34,733,895.37	-11.05%		-5.76%	3.11%	-8.60%
Producers Savings Bank	641,420,527.40	649,471,114.99	98.76%		672,527,873.94	649,839,788.62	103.49%		31,107,346.54	368,673.63	4.73%		4.85%	0.06%	4.79%
Philippine Postal Savings Bank	835,793,301.74	823,962,840.17	101.44%		840,011,784.78	829,916,335.27	101.22%		4,218,483.04	5,953,495.10	-0.22%		0.50%	0.72%	-0.22%
Security Bank Savings Corporation	1,019,815,517.03	1,336,949,287.29	76.28%		1,351,287,204.45	1,335,142,276.18	101.21%		331,471,687.42	-1,807,011.11	24.93%		32.50%	-0.14%	32.68%
Dumaguete City Development Bank	217,174,850.78	217,277,299.29	99.95%		215,729,639.58	217,277,299.29	99.29%		-1,445,211.20	0.00	-0.67%		-0.67%	0.00%	-0.67%
Penbank, Inc.	177,743,232.25	286,750,207.57	61.99%		269,401,698.57	286,750,207.57	93.95%		91,658,466.32	0.00	31.96%		51.57%	0.00%	51.57%
Citibank Savings Inc.	4,117,362,760.03	4,626,549,833.36	88.99%		4,248,316,814.98	4,556,756,088.22	93.23%		130,954,054.95	-69,793,745.14	4.24%		3.18%	-1.51%	4.76%
Philippine Savings Bank	13,800,587,750.03	16,774,387,958.48	82.27%		14,692,734,483.48	16,524,087,878.48	88.92%		892,146,733.45	-250,300,080.00	6.65%		6.46%	-1.49%	8.08%
Microfinance Maximum SB (Maxbank)	39,287,283.56	62,219,777.23	63.14%		54,931,838.38	62,266,587.38	88.22%		15,644,554.82	46,810.15	25.08%		39.82%	0.08%	39.72%
Bank One Savings and Trust Corp.	205,643,521.84	522,793,794.10	39.34%		404,565,810.22	522,793,794.10	77.39%		198,922,288.38	0.00	38.05%		96.73%	0.00%	96.73%
BPI Family Savings Bank	10,962,657,294.50	15,631,116,655.46	70.13%		11,720,891,290.89	15,625,229,419.16	75.01%		758,233,996.39	-5,887,236.30	4.88%		6.92%	-0.04%	6.96%
Philippine Resources Savings Banking Corporation	1,547,535,074.86	1,262,243,674.14	122.60%		947,517,613.05	1,312,494,388.25	72.19%		-600,017,461.81	50,250,714.11	-50.41%		-38.77%	3.98%	-41.12%
Metro Cebu Public Savings Bank	60,994,733.05	70,416,695.68	86.62%		51,581,023.86	72,847,564.07	70.81%		-9,413,709.19	2,430,868.39	-15.81%		-15.43%	3.45%	-18.26%
Philippine Business Bank	2,791,810,111.72	3,623,685,633.83	77.04%		2,778,866,639.17	3,934,592,014.14	70.63%		-12,943,472.55	310,906,380.31	-6.42%		-0.46%	8.58%	-8.33%
Sampaguita SLA	46,004,304.84	73,473,403.35	62.61%		57,736,055.28	85,749,472.39	67.33%		11,731,750.44	12,276,069.04	4.72%		25.50%	16.71%	7.53%
Cordillera Savings Bank	72,238,424.04	114,999,722.22	62.82%		73,562,178.57	114,956,104.55	63.99%		1,323,754.53	-43,617.67	1.18%		1.83%	-0.04%	1.87%
BPI Globe Banko Inc. Savings Bank	129,529,499.04	524,801,276.58	24.68%		378,645,371.65	600,052,047.92	63.10%		249,115,872.61	75,250,771.34	38.42%		192.32%	14.34%	155.66%
Sterling Bank of Asia Inc.	1,340,942,173.03	1,982,948,594.02	67.62%		1,263,994,310.97	2,013,529,012.56	62.78%		-76,947,862.06	30,580,418.54	-4.85%		-5.74%	1.54%	-7.17%
United Overseas Bank Philippines	890,516,409.74	1,447,803,997.42	61.51%		892,932,582.91	1,447,649,122.74	61.68%		2,416,173.17	-154,874.68	0.17%		0.27%	-0.01%	0.28%
Tong Yang Savings Bank Inc.	273,697,947.26	447,930,833.59	61.10%		260,290,656.75	464,599,551.99	56.02%		-13,407,290.51	16,668,718.40	-5.08%		-4.90%	3.72%	-8.31%
Life Savings Bank	39,197,897.11	65,556,807.08	59.79%		33,586,278.49	65,456,807.08	51.31%		-5,611,618.62	-100,000.00	-8.48%		-14.32%	-0.15%	-14.19%
First Consolidated Bank	930,476,260.60	1,918,465,411.34	48.50%		955,260,117.52	1,965,455,035.15	48.60%		24,783,856.92	46,989,623.81	0.10%		2.66%	2.45%	0.21%
UCPB Savings Bank	1,043,287,518.62	2,223,751,763.04	46.92%		1,061,372,893.23	2,242,683,271.11	47.33%		18,085,374.61	18,931,508.07	0.41%		1.73%	0.85%	0.87%
Quezon Coconut Producers SLB Inc.	26,069,391.63	58,522,203.39	44.55%		27,001,212.31	58,300,771.65	46.31%		931,820.68	-221,431.74	1.77%		3.57%	-0.38%	3.97%
Pridestar Development Bank	40,634,573.53	71,792,073.12	56.60%		31,942,247.14	71,698,825.23	44.55%		-8,692,326.39	-93,247.89	-12.05%		-21.39%	-0.13%	-21.29%
Pampanga Development Bank	83,899,881.42	123,549,419.19	67.91%		54,553,951.74	125,163,058.50	43.59%		-29,345,929.68	1,613,639.31	-24.32%		-34.98%	1.31%	-35.82%
Lemery Savings & Loan Bank, Inc.	33,001,621.19	71,454,318.24	46.19%		30,898,788.37	71,454,318.24	43.24%		-2,102,832.82	0.00	-2.94%		-6.37%	0.00%	-6.37%
Allied Savings Bank	397,328,530.82	1,015,746,565.62	39.12%		436,831,761.07	1,017,246,565.62	42.94%		39,503,230.25	1,500,000.00	3.83%		9.94%	0.15%	9.78%
Wealth Bank - A Development Bank	343,240,894.02	403,307,129.12	85.11%		178,338,088.79	418,457,222.96	42.62%		-164,902,805.23	15,150,093.84	-42.49%		-48.04%	3.76%	-49.92%
World Partners Bank (A Thrift Bank)	103,819,208.71	181,088,626.37	57.33%		76,859,421.51	180,827,639.98	42.50%		-26,959,787.20	-260,986.39	-14.83%		-25.97%	-0.14%	-25.86%
Tower Development Bank	46,810,509.98	118,433,563.41	39.52%		48,171,898.05	118,433,563.41	40.67%		1,361,388.07	0.00	1.15%		2.91%	0.00%	2.91%
CityState Savings Bank	302,018,405.44	806,533,911.73	37.45%		311,081,927.08	806,533,911.73	38.57%		9,063,521.64	0.00	1.12%		3.00%	0.00%	3.00%
Maritime SLA	26,345,059.98	68,811,839.22	38.29%		24,659,137.86	68,811,839.22	35.84%		-1,685,922.12	0.00	-2.45%		-6.40%	0.00%	-6.40%
Malasiqui Progressive SLB, Inc.	17,286,296.20	57,540,947.14	30.04%		20,436,285.91	57,540,947.14	35.52%		3,149,989.71	0.00	5.47%		18.22%	0.00%	18.22%
BPI Direct Savings Bank	228,359,957.42	860,291,802.94	26.54%		271,380,438.55	766,396,820.94	35.41%		43,020,481.13	-93,894,982.00	8.87%		18.84%	-10.91%	33.40%
Northpoint Development Bank	33,717,155.21	56,343,745.64	59.84%		28,571,756.82	92,372,200.96	30.93%		-5,145,398.39	36,028,455.32	-28.91%		-15.26%	63.94%	-48.31%
The Queen City Development Bank	150,368,723.02	684,680,835.05	21.96%		153,456,224.57	684,680,835.05	22.41%		3,087,501.55	0.00	0.45%		2.05%	0.00%	2.05%
City Savings Bank	462,342,601.63	1,984,462,889.20	23.30%		440,957,959.30	1,992,880,797.04	22.13%		-21,384,642.33	8,417,907.84	-1.17%		-4.63%	0.42%	-5.03%
Dungganon Bank	10,370,144.01	64,889,259.48	15.98%		14,282,585.13	64,839,980.89	22.03%		3,912,441.12	-49,278.59	6.05%		37.73%	-0.08%	37.83%
Bataan SLA	11,145,691.52	78,391,671.64	14.22%		10,950,886.81	73,936,671.64	14.81%		-194,804.71	-4,455,000.00	0.59%		-1.75%	-5.68%	4.17%
Optimum Development Bank	103,834,979.41	686,049,339.39	15.14%		90,258,234.85	683,355,419.98	13.21%		-13,576,744.56	-2,693,919.41	-1.93%		-13.08%	-0.39%	-12.73%
Card SME Bank Inc. (A Thrift Bank)	19,959,946.63	189,500,499.98	10.53%		19,170,008.20	190,550,540.55	10.06%		-789,938.43	1,050,040.57	-0.47%		-3.96%	0.55%	-4.49%
Isla Bank (A Thrift Bank) Inc.	55,911,177.51	631,893,880.25	8.85%		55,879,355.65	631,893,880.25	8.84%		-31,821.86	0.00	-0.01%		-0.06%	0.00%	-0.06%
Sun Savings Bank	6,621,560.84	76,888,654.99	8.61%		6,565,898.74	77,159,514.33	8.51%		-55,662.10	270,859.34	-0.10%		-0.84%	0.35%	-1.19%
HSBC Savings Bank (Phils) Inc.	276,219,723.50	2,874,799,696.12	9.61%		236,274,309.69	2,877,120,064.23	8.21%		-39,945,413.81	2,320,368.11	-1.40%		-14.46%	0.08%	-14.53%
Pacific Ace Savings Bank	15,724,475.41	76,042,652.60	20.68%		5,843,016.99	75,790,600.32	7.71%		-9,881,458.42	-252,052.28	-12.97%		-62.84%	-0.33%	-62.72%
Progress SLA	6,559,401.09	84,796,580.47	7.74%		6,370,390.41	84,769,900.88	7.51%		-189,010.68	-26,679.59	-0.22%		-2.88%	-0.03%	-2.85%
Century Savings Bank	64,331,406.32	873,029,865.98	7.37%		59,386,025.04	873,232,215.08	6.80%		-4,945,381.28	202,349.10	-0.57%		-7.69%	0.02%	-7.71%
BDO Elite Savings Bank	93,347,872.51	1,507,557,562.16	6.19%		93,512,659.64	1,507,557,562.16	6.20%		164,787.13	0.00	0.01%		0.18%	0.00%	0.18%
Merchants Savings & Loan Association Inc.	382,320,155.01	669,746,853.07	57.08%		384,344,282.17	6,522,665,880.14	5.89%		2,024,127.16	5,852,919,027.07	-51.19%		0.53%	873.90%	-89.68%
Grand Total	78,832,546,427.93	85,463,854,692.37	92.24%		93,147,922,936.78	92,629,287,402.98	100.56%		14,315,376,508.85	7,165,432,710.61	8.32%		18.16%	8.38%	9.02%

Source: www.bsp.gov.ph

Disclaimer:

This list only serves as a screening guide.  It is not a definitive guide and must be taken in the context of other factors.  The figures are based on the individual banks' Published Statements of Condition as of June 30, 2012 and September 30, 2012 as published in the BSP website (www.bsp.gov.ph). For this analysis, no attempt was made to go through the audited financial statements of each bank. Readers are suggested to make their own investigations and verify the figures presented. Both BSP and PDIC have their own problem bank screening systems that are much more sophisticated in scope and design, given that they have more access to information over the banks they regulate.